Strathmore Minerals Acquires Near-Surface Uranium Deposit Amenable to Conventional Miningadmin
STRATHMORE MINERALS CORP. (the “Company”) (TSX VENTURE: STM)is pleased to announce the Company recently completed acquisition of the Ketchum Buttes Property in Wyoming by claim staking. The uranium deposit is near-surface and may be developed by conventional open-pit mining methods. Uranium could be extracted through heap-leach, or possibly through tolling at the nearby Sweetwater Mill, if and when it reopens.
The Ketchum Buttes resource complements Strathmore’s RED CREEK Property located 30 miles to the southwest. RED CREEK was drilled by Urangesellschaft, which developed mining and milling plans for the project in the late 1970′s. The Red Creek ore deposit is reported to contain an historical (non-compliant 43-101) resource of several million kilograms of uranium.
Several predecessors, including Pathfinder, completed hundreds of drill holes in the region. A majority those drill holes were completed on the Ketchum Buttes Property. Pathfinder defined a drill-indicated resource for that portion of the Ketchum Buttes Property of nearly 1.5 million pounds U3O8 (historical resource, not 43-101 compliant). The Property is hosted within the Miocene Browns Park Formation, which consists of sandstones and conglomerates.
The Ketchum Buttes Property is located 30 miles south of the City of Rawlins (Carbon County), Wyoming and about 30 miles from the Colorado border. Twenty-one lode mining claims were staked over the historically known Foster ore body, that was previously explored and delineated by Pathfinder Mines Corporation, now part of AREVA (Cogema) in the 1970′s.
The Company is also pleased to announce that claim staking was completed on an additional 640 acres of highly prospective lands in the Shirley Basin Uranium District of Wyoming. The area staked was previously owned by Utah International and historical data indicates “roll-front” mineralization lying at depths of 350-500 feet beneath the surface. The uranium mineralization is hosted with sandstones units of the Eocene Wind River Formation, and is considered amenable to in-situ recovery. These newly acquired lands bring the Company’s position in the Shirley Basin area to over 10,000 acres of land.
These property acquisitions in the United States represent Strathmore’s continued efforts to focus on developing advanced stage projects in Wyoming and New Mexico, which may be amenable to either the In Situ Recovery (ISR) or Conventional Mining methods.
STRATHMORE MINERALS CORP. is a Canadian based company specializing in the strategic acquisition of low cost mineral properties, predominantly in the uranium sector. STRATHMORE MINERALS CORP. Common Shares are listed on the TSX Venture Exchange under the symbol “STM”.
This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
ON BEHALF OF THE BOARD
David Miller, President and COO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Contacts: Strathmore Minerals Corp. Bob Hemmerling Investor Relations
Strathmore Minerals Corp. Craig Christy Investor Relations 1-800-647-3303 email@example.com